Any charitable organization can take advantage of the opportunity to establish an endowment fund with the BC Interior Community Foundation, ensuring a consistent and reliable source of income. We handle all investment management and administrative responsibilities related to the fund on your behalf. The returns generated by your endowment fund can be utilized without restrictions, allowing you to advance your charity’s mission for years to come.
Why Start a Fund with Us?
We offer incredible services for our scholarship and bursary funds, including an online application, outreach to local high schools and school districts, and our cheque-writing services.
DONOR TAX BENEFITS
As a public charity, we offer maximum tax advantage for most gifts according to federal law.
We handle all fund paperwork for donors, including fund statements, cheque-writing, tax filings, annual financial audits, donor acknowledgements, tax receipts, and record-keeping.
As a charity, BC Interior Community Foundation’s fees are 1% annually and designed to just recover our actual costs
How it Works
- Your board determines how much you would like to invest long-term.
- Your organization works with us to complete a fund agreement.
- We set up a special fund in the name of your nonprofit organization.
- Your nonprofit organization receives regular statements on the fund.
- You can add to the fund at any time.
- We handle all the administrative details – including investment management and help in specifying grant disbursements.
- Gifts are placed into your endowment and combined with our invested funds. Earnings from your fund are distributed to your organization to address your agency’s most pressing needs.
Frequently Asked Questions
What is the purpose of an agency fund?
Agency funds provide a long-term, dependable source of operating revenue to nonprofits and are traditionally created by the organization itself. Many nonprofits treat their charitable funds as an endowment fund that helps them plan for the future.
Why set up a nonprofit fund?
Having an agency fund frees the nonprofit from the responsibility of actively managing investments and investment managers. We have dedicated staff for investments and fund accounting that most nonprofits cannot afford. Being a part of a larger pool of assets can be beneficial for returns.
Do grants have to be made every year from an agency fund?
No. Many agency funds start with the intention of growing for many years before beginning to make disbursements. Many nonprofits treat their charitable funds as an endowment fund that helps them plan for the future.